Week 1 Results
I didn't do too hot this week. I began on Tuesday January 12th and aim to double my money by February 12th.
Beginning Market Value: $100
Ending Market Value: $99.49
Percent Growth: - 0.5%
Week 1 Learnings
Even after placing aggressive bets, this week ended with minimal results. Unfortunately, because of my typical long term outlook, this tells me two things:
Be patient
Wait
So those are obviously two options I do not have right now. Seeing that I will come to the end of this challenge in just 19 days of trading, I need to be much more aggressive and further increase my risk tolerance.
Right now, I'm playing a very traditional "buy low, sell high" strategy game, trying to time the market. This has proved very unsuccessful this week, so I think I'll have to change it up for the weeks to come.
Week 1 Trades
This week's trades primarily included large cap securities in the tech space. Even those securities not specifically in the tech space represent holdings that are heavily influenced by tech. The largest holdings in the Ark Innovation ETF include Tesla, Roku, and Square: all tech giants.
The inverse VIX holding will be interesting to watch moving into inauguration day. I'd suspect volatility to increase based on uncertainty with regard to public reaction and violence that may arise across the country. However, the market correction that occurred on Friday seems to have reassured some investors, causing volatility to decrease.
When all is said and done, I played a very basic game this week. I will have to change it up next week.
Here's a summary of all of my trades for the week:
Moving Forward
I will be changing my strategy next week. Let me do some researching tonight on how to actually day trade (yes I probably should have done this before hand, but what's the harm in learning as you go? Do or die!)
Any insight or recommendations?? Please let me know!!
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